Global Industrial Hemp Production Picking Up Steam Quickly
Palm Beach FL – February 7, 2019 – The seemingly never ending rise of revenue projections for hemp products goes hand-in-hand with the consumer markets growing acceptance of the products inherent attributes. Research reports find that: “The global industrial hemp market size was estimated at USD 3.9 billion in 2017, expanding at a CAGR of 14.0% over the forecast period. Growing demand for hemp-based food products including cooking oil, dairy alternatives, flour, and salad dressings is expected to drive market growth. In addition, rising demand for bakery products such as bread and cookies is expected to drive the market. The report continues:” The industry is witnessing growth on account of increasing consumer awareness pertaining to benefits associated with hemp products. The product is a rich source of omega-3 and omega-6, amino acids, and proteins. These nutrients aid in insulin balance, cardiac function, mood stability, and skin and joint health, which is expected to complement industry growth.” Active companies in the cannabis industry this week includes: Future Farm Technologies Inc. (CSE: FFT) (OTCQB: FFRMF), Green Growth Brands Inc. (CSE: GGB) (OTC: GGBXF), Aurora Cannabis Inc. (NYSE: ACB) (TSX: ACB), The Green Organic Dutchman Holdings Ltd. (OTC: TGODF) (TSX-V: TGOD), OrganiGram Holdings Inc. (OTC: OGRMF) (TSX-V: OGI).
The researchers added: “The global industrial hemp market size is expected to reach USD 10.6 billion by 2025, according to a new report by Grand View Research, Inc. The market is anticipated to expand at a CAGR of 14.0% during the forecast period. Rising demand for oil in food and beverages owing to growing awareness regarding dietary advantages of hempseed and oil is expected to propel demand.
Future Farm Technologies Inc. (CSE: FFT) (OTCQB: FFRMF) BREAKING NEWS: As it prepares to begin selling its inventory of Cherry Wine hemp seeds for CBD-producing hemp, Future Farm Technologies is pleased to announce that its Maine subsidiary, Future Farm Maine, will soon be offering for sale its inventory of Cherry Wine hemp seeds for CBD-producing hemp.
Click here to view Future Farm Maine’s harvest video.
In 2018, Future Farm hand-selected the Cherry Wine seeds to be offered for sale from more than 50,000 hemp plants to allow purchasers of those seeds to maximize the success of their harvests of hemp. The Company expects the sales of those seeds during calendar 2019 to have a significant positive impact on both its revenue and bottom line, as compared to the current fiscal year, because the costs associated with producing those seeds are expected to be significantly less than the revenue that the sale of the seeds will generate. Future Farm is in the process of creating a website to support its seed sales effort, but in the meantime inquiries can be sent to [email protected].
As these efforts advance in Maine, the Company’s lab in Belfast is up and running, collecting data to enable the Company to refine procedures as needed and begin sales of CBD distillate in the near future. In March, Zachary Lapan, Manager of the Company’s Maine cultivation and processing operations, along with George Groccia, Future Farm’s organizational and operational manager, will share their experience working on the Maine farm as speakers at the 2019 New England Cannabis Convention in Boston. Read this full announcement and more news for Future Farm Technologies at: https://www.financialnewsmedia.com/news-fft/
Additional cannabis industry related developments from around the markets:
Green Growth Brands Inc. (CSE: GGB.CN) (OTCQB: GGBXF) recently the company announced that it executed an arm’s length definitive agreement to acquire control of ZLJT LLC & Arizona Natural Pain Solutions Inc, collectively referred to as “Desert Rose”. Desert Rose holds a license for a vertically-integrated operation in Arizona , including retail, cultivation & infusion (kitchen). As consideration for the membership interests, GGB will pay an aggregate purchase price of USD$12,350,000 (CAN$16,292,120) in cash.
“We were very impressed with the quality of the operations held by Arizona Natural Pain Solutions,” said Green Growth Brands CEO Peter Horvath . “At Desert Rose, the team is dedicated to providing their customers with medical marijuana products that are pure, safe, and efficient while striving to keep their costs as affordable as possible. This strategy fits perfectly with our plans to grow the world’s premier cannabis retailing business.”
Aurora Cannabis Inc. (NYSE: ACB) (TSX: ACB) announced today that its extraction technology partner, Radient Technologies (“Radient”) (TSX-V: RTI; OTCQX: RDDTF), has received its Standard Processing License from Health Canada. In 2016, Aurora identified Radient’s proprietary extraction technology (MAP™) as potentially disruptive for the cannabis industry due to its ability to achieve much higher throughputs than is possible with existing benchmark technologies, as well as its efficiency and ability to preserve the full spectrum of cannabinoids and terpenes found in the source material. These aspects provide key competitive advantages in the development and large-scale production of high-quality derivative products.
The Green Organic Dutchman Holdings Ltd. (OTCQX: TGODF) (TSX-V: TGOD) yesterday the company announce that, further to its news release of January 24, 2019 announcing the record date for the distribution (the “Distribution”) of unit purchase warrants (“SpinCo Unit Warrants”) of TGOD Acquisition Corp. (“SpinCo”) under its previously announced plan of arrangement with SpinCo (the “Arrangement”), TGOD has now mailed an election form (the “Election Form”) to all registered TGOD shareholders of record as of January 31, 2019 (the “Distribution Record Date”) who have an address of record outside the United States . All non-U.S. registered TGOD shareholders of record as of the Distribution Record Date who wish to receive the SpinCo Unit Warrants they are entitled to under arrangement must complete the Election Form and deliver it to Computershare Investor Services Inc. as the tabulation agent (the “Tabulation Agent”) by 4:00 p.m. ( Toronto time) on February 22, 2019 (the “Election Deadline”) or they will lose their right to receive any SpinCo Unit Warrants.
OrganiGram Holdings Inc. (OTCQX: OGRMF) (TSX-V: OGI.V) recently announced that it has reached – and already surpassed – the production of one million cannabis pre-rolls since the legalization of adult use recreational cannabis in October 2018. The Company credits the automation of its processes along with surging consumer demand for the success of its large-scale production. “At Organigram, we are proud to be among a select group of licensed producers who have been able to rise to the challenge of large-scale pre-roll production,” says Greg Engel, CEO, Organigram. “Our operations team has done an amazing job introducing automation to important parts of our process, building our overall capacity while retaining our focus on product quality.”
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